Slice of Life is a popular genre of anime and manga that portrays daily life of its characters. It often shows their school life and friendly or romantic relationships in a limited time span.
Usually, it takes place in a realistic world with realistic, ordinary teen characters, often with real-life Japanese locations. Sometimes, it can have some fantasy or supernatural elements, like in Miss Kobayashi's Dragon Maid.
The plot focuses on the characters' interactions and relationships, sometimes showing dramatic conflicts between them or the characters getting through hardships together. Drama and conflict in the Slice of Life genre generally centers on relatable, real life circumstances. The place of action is usually the characters' school or home city.